Insider makes shocking salary projection for McDavid if NHL had no cap
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Connor McDavid's next contract extension will be a fraction of the real value he'd be worth without a salary cap, says insider Elliotte Friedman.
McDavid could easily sign for the maximum value under the current salary cap, which would pay him $19.1M in annual salary. Thankfully for the Oilers, he's willing to take another salary discount on his next deal.
Connor McDavid would be worth near $50M if NHL had no salary cap
Even if McDavid took the full maximum salary however, there's a good argument to be made that he'd still be underpaid.
The NHL's salary cap system makes fans incredibly interested in salary values because there's a cap on the amount of money teams can spend on players. But in other sports leagues without salary caps, player value is determined by the actual value they contribute to the franchise, and based on team revenue.
The Oilers are the NHL's highest revenue earning team at the moment, taking in $388M last year. Compared to other athletes and the whopping amount the Oilers really make, McDavid should be near $50M. David Staples at the Edmonton Journal ran the numbers:
If McDavid took 10.6 per cent of Edmonton's revenue he'd make $41 million.
If he took the seven per cent of revenue that the NBA's top paid player Stephon Curry made, he'd make $27 million.
But if he took the 24.6 per cent that baseball's top paid player Juan Soto earned of New York Mets' revenues, McDavid would make $95 million.
The average salary of those three percentages for Prescott, Curry and Soto is 14.04 per cent, meaning McDavid would make $47.5 million.
- David Staples, Edmonton Journal
If he took the seven per cent of revenue that the NBA's top paid player Stephon Curry made, he'd make $27 million.
But if he took the 24.6 per cent that baseball's top paid player Juan Soto earned of New York Mets' revenues, McDavid would make $95 million.
The average salary of those three percentages for Prescott, Curry and Soto is 14.04 per cent, meaning McDavid would make $47.5 million.
- David Staples, Edmonton Journal
Looking at the amounts that Daryl Katz is pulling in, it's absolutely clear that McDavid and all players vastly underpaid - especially with the best player topping out under $20M. From this perspective, players are right to refuse any discount for the team.
The NHL has already agreed to a new Collective Bargaining Agreement, so for the time being the salary cap isn't going anywhere, and will continue to keep player salaries down relative to team earnings.
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